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On October 1, 2021, FDNACCT received from a customer a promissory note that will mature on August 1, 2022 for merchandise sold amounting to

 







On October 1, 2021, FDNACCT received from a customer a promissory note that will mature on August 1, 2022 for merchandise sold amounting to P100,000. Though interest on the note is 12%, no interest has yet been recorded on the books of FDNACCT. The adjusting entry for December 31, 2021 should include a credit to Interest Income in the amount of?

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